Centrica’s $1 billion acquisition grows Direct Energy

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Centrica plc, the U.K.-based parent company of Direct Energy, partnered with Qatar Petroleum to buy $1 billion in natural gas and crude oil assets in western Canada Monday from Suncor Energy. Direct Energy will now own the production assets to supply 60% of its retail gas customers in North America. Currently, they provide 20% of its own gas. Centrica will operate the business, which is subject to regulatory approval of the Canadian government.

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